Monday, 7 May 2007

As Good As It Gets

Daily P/L: £340.01
Monthly P/L: £37.00

A truly unbelievable week has delivered both my worst and best ever results. I now sit in a position where I'm showing a profit for the month and I'd like to add that even though I got a little lucky today I wasn't reckless like I've been for most of the last 7 days. On reflection I think the combination of a week off work and the new office got to me and I went off the rails. Fortunately, I now have a chance to redeem myself but you have to take the lows with the highs in this game.
Durham v Lancashire
There was a feast of English cricket talent on show and they lived up to expectations to deliver a cracking match with plenty of excellent trading opportunities. Lancashire were firm favourites before the first ball and were trading at around 1.60. I'd noted that a par score would be 233 so even though Durham lost a couple of early wickets they were able to keep the scoreboard ticking over to finish on 220 after their 50 overs. The commentators were full of doom and gloom regarding their chances but I disagreed - on my reckoning Lancashire would be worthy favourites but surely at a price of around 1.61? Nope - the Lancashire price at the turn of the innings was 1.30! I was holding an all green position of around £75 at this point and even though I made a few small raids to nick a tick here and there I held off lumping on Durham until a better opportunity came.....and boy did it ever!
Lancashire started their innings well and it was soon apparent that Hodge and Loye were the key dangermen. The Lancs. price went as low as 1.07 before things started to turn. The run rate was beginning to slow down and I could sense that if Hodge lost his wicket we could see a big flip-flop situation. Then it happened - OUT! I scrambled with the mouse and in my excitement gave it 2 clicks. With the one click trading software I use this can often be a very dangerous situation (especially as each click was worth £522 in this case) but for once it went in my favour. As I entered my position £3000 appeared at 1.15 to back Lancashire and as I was trying to lay them within a millisecond I'd snaffled over a grand of what was on offer. Within a few seconds the price was out to 1.32 and rising! It was like Christmas all over again! I could have taken a nice profit immediately but I knew that this was a perfect opportunity to take a big win. At this point my position stood with a liability of £150 on Lancashire and a profit of over £1,000 on Durham but as I wanted to make sure that I cleared my monthly losses I decided not to risk it and gradually traded out for an all green position of £340. I've included the screenshot not to celebrate but just to prove that it did happen as I'm sure there'll be a few people with doubts when they read this. Even though Durham did go onto win I'm glad I made sure that I wouldn't be a loser today.
With no darts until the end of May a quiet week lies ahead but I'm in no rush - someone crack open the champagne!
Finally, thanks to those who've passed on supportive messages over the last few days - it really helped.


Anonymous said...

Glad to see your knowledge & skill paid off with you wiping out the red for the month. Hope the success continues!!

slipperytoad said...

As the punch line from the Direct Line advert states..

"that's better" ...

Mark Iverson said...

Thanks Anonymous,

After my loss on Sunday I studied cricket quite hard before getting involved on Monday and thankfully it paid off. Hopefully I'll be able to carry this form through the Summer.

All the best.


Mark Iverson said...

Hi Mike,

Thank goodness for that - let's hope I don't blow it from here!

Thanks again.


John Wheatland said...

Hi Mark,
Congrats on getting into the green once again, excellent result on the cricket.

Mark Iverson said...

Thanks John!

I'm sorry to hear about your break up. I'm sure things will turn out for the best.

Take care